While the initial position open is always based on a closed candle bar (can’t do otherwise, as otherwise you will have 10s of fake signal alerts), there are 2 ways on trading this strategy in terms of TP1/TP2, which is based off Alert type. If you will be day trading SPY for example and you wish to close your positions no matter what right before the market closes (3:45PM ET > 15min before closes): Make sure to checkbox “Intraday – Close Position Before Market Closes” in the strategy/indicator Settings! If you will be trading FOREX or Crypto and you wish for the trader bot to run 24/7 – leave this checkbox unchecked. If you hit Stop-Loss > you hit Stop-Loss. If the price comes back and hits Entry area after TP1 is taken - the position will be closed to prevent losses after you have already taken TP1. TP1 (take profit 1) area is calculated via sophisticated algorithm, which is based off the ATR, while TP2 (take profit 2 or the remaining of the position) is taken when the price hits trailing stop-loss component (which is awesome in case a trend initiates), trailing stop-loss starts chasing the price once TP1 is taken. The script uses ATR for entering/exiting trades, nothing special, the cool things come afterwards. The strategy/indicator Settings are very flexible, self-explanatory and are very quick to setup, you can setup the Alert in seconds, while setup a trading bot in minutes! This strategy/indicator can be used to either trade manually per signal Alerts or you can configure a completely automated system using AutoView (considering your Broker has API capability/included).
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |